Totally_Wired
29 Jan 2020
In the Media From EUA twitter feed tonight: "Eurasia Mining@eurasiamining 1h Contrary to recent media speculation, we refer to our statements in RNS in late 2019 (17 Dec, 04 Dec and 29 Nov). We look forward to further updating the market in due course." [link]
Totally_Wired
17 Dec 2019
RNS-Historic 17 December 2019 Eurasia Mining plc Monchetundra Flanks Update Eurasia Mining is a palladium, platinum, rhodium, iridium and gold producing company, operating the established West Kytlim Mine in the Urals. It is also the operator of the Monchetundra Project: two predominately palladium open pit deposits located 3km away from Severonickel, one of the largest Norilsk Nickel’s base metals and PGM processing facility, near the town of Monchegorsk on the Kola Peninsula. The Company is pleased to confirm that the Russian Ministry of Defence has approved the Monchetundra Flanks application, although final approval from SevZapNedra, the regional licensing body, is still awaited. The approval from the Russian Ministry of Defence is an important step in obtaining the Flanks licence, and Eurasia is happy to confirm that the Flanks application process is progressing as planned and we expect to receive the respective licence in due course. Further updates will be provided as appropriate. Christian Schaffalitzky, Chairman at Eurasia commented: “The Directors are pleased that all our applications including the Monchetundra Flanks are progressing well and on schedule. We look forward to the formal license issue, which is in line with our strategy to become one of the largest alluvial PGM operations globally. We believe we are now established as an important player in the PGM space in both the Urals and Kola regions. We look forward to scaling up our operations at West Kytlim and providing, what we believe will be the lowest cost PGM operation that is potentially sustainable over several decades. Our cash cushion, our zero debt, the progress on the Monchetundra Flanks and the favourable price environment for PGM, particularly for palladium and rhodium, are helping us in our ongoing talks and discussions, and we believe this strengthens our negotiating position as we continue to explore options for our assetsâ€. [link]
Ripley94
16 Dec 2019
RNS-Historic EUA… Moving slowly down from excitement of late October… 2.45p today . Not at month low yet .
Totally_Wired
04 Dec 2019
In the Media Eurasia Mining climbs as it says licence applications for Monchetundra and West Kytlim “progressing well†Calum Muirhead 10
8 Wed 04 Dec 2019 As part of its announcements, the company clarified that its Monchetundra flanks area and other locations adjacent to its production licence contained a potential PGM resource of around 15mln ounces Eurasia Mining PLC (LON:EUA) climbed on Wednesday as it said licence applications for its Monchetundra and West Kytlim projects in Russia were “progressing well†as it advanced plans to expand its presence in the area. In an update, the AIM-listed miner said it has also received written approval from Rosnedra, the Russian federal subsoil management agency, for subsoil use in relation to its Tipil licence, a 24.5 square kilometre area at West Kytlim that in June reported sedimentary units hosting deposits of platinum group metals (PGM). It is now awaiting a formal meeting with the local mines commission to complete the application process. READ: Eurasia Mining hails “step change†in development as it takes full control of production at West Kytlim While its application for Monchetundra progresses, Eurasia is also maintaining an engineering, procurement, construction and financing (EPCF) contract with Chinese state-owned firm Sinosteel, which is financing 85% of the US$176mln deal. “We believe we are now established as a dominant player in the PGM space in the region and look forward to scaling up our operation providing a low cost PGM solution that is sustainable over potentially several decadesâ€, said Eurasia chairman Christian Schaffalitzky. In a separate announcement, the company clarified information around the Monchetundra flanks area and other immediate areas adjacent to its production licence, saying the potential PGM resource for the area was around 15mln ounces, with an additional potential resource of around 4mln ounces within 5 kilometres of the licence area. “We have always noted the significant potential in the [Monchetundra] area which we now more strongly believe can be developed into a new global mining region for PGM to rival other large PGM producing regions of the world, including the Bushveld Complex in South Africa and the Taimyr Peninsula in Russiaâ€, Following the clarification of the company’s projects, analysts at First Equity pegged the shares with a ‘buy’ rating and a price target of 12.75p. “With PGM prices on an upward trajectory, talks with interested parties in motion, [and] a favourable mineral licensing regime, [Eurasia is] a highly liquid share that is now on the radar screen of institutional investorsâ€, the broker said. The positive news sent Eurasia shares up 8.7% to 2.7p. [link]
Totally_Wired
04 Dec 2019
RNS-Historic 04 December 2019 Eurasia Mining plc West Kytlim update SinoSteel update Eurasia Mining, the palladium, platinum, rhodium, iridium and gold producing company, operating the established West Kytlim Mine in the Urals, and also the operator of the Monchetundra Project two predominately palladium open pit deposits located 3km away from Severonickel, one of the largest Norilsk Nickel’s base metals and PGM processing facility, near the town of Monchegorsk on the Kola Peninsula, is pleased to confirm that the Company remains in contact with all the relevant authorities in relation to its license applications and would like to confirm that both Monchetundra flanks and all the other applications are progressing well and on schedule within the timing as defined by the applicable laws. In particular Eurasia has just received the approval in writing from Rosnedra, Russian agency for subsoil use in relation to its Tipil license application. This is the final approval and the appropriate license is to be issued in due course. Tipil license, West Kytlim As announced on 17 June 2019 the new Tipil license (24.5km2) contains approximately 17 kilometres of river course and sedimentary units proven to host PGM deposits at the West Kytlim project. Geological data and historical mining information have been analysed by the Company’s geologists and compiled in a report supporting the application, which includes exploration data generated by the Company in its earlier exploration licence. The application has been approved by the Russian federal bodies and requires only a formal meeting of the local mines commission. Further updates will be provided when that next step is reached. Sinosteel EPC contact update: As Monchetundra’s flanks application is progressing, the Company keeps its EPCF contract in place with Sinosteel, which establishes the route to the Monchetundra Project’s development.Sinosteel is a diversified and integrated base and industrial metals enterprise and a major importer of iron ore to China. The Sinosteel EPC financing covers 85% (or US$149.6M) of a total contract value of US$176M. A US$50M sub-contract is specified within the contract and is assigned to Eurasia’s 80% subsidiary TGK, or a sub-contractor of its choosing, for engineering and pit development works in advance of mining. Once activated, the contract provides for a payout of the US$50M subcontract over a period of 36 months. The sub contract has not yet been activated by Eurasia as it continues to consider its options for the assets. In the meantime, the Company can trigger the start of the Sinosteel EPC contract, at any time at its discretion, until 2027. Accordingly, Monchetundra project remains 100% financed as previously announced. Further updates will be provided in due course as appropriate. Christian Schaffalitzky, Chairman at Eurasia commented: 'The Directors are pleased that all our applications including the Monchetundra flanks and West Kytlim Flanks applications are progressing well and on schedule. And we look forward to the formal license issue, which is in line with our strategy to expand the production volumes at West Kytlim, to further increase our presence in the West Kytlim area and aim to grow the mine to strengthen our position as the largest alluvial operation globally. We believe we are now established as a dominant player in the PGM space in the region and look forward to scaling up our operation providing a low cost PGM solution that is sustainable over potentially several decades. We are also pleased to confirm that our Sinosteel EPCF contract remains valid and as yet we are not exercising our right for $50m payment option attributable to Eurasia’s subsidiary TGK while talks with third parties are ongoing. Tipil Area The Tipil license area is 24.5km2. With Tipil the total ground licensed will stand at 95km2, which is inclusive of the Flanks Area (71Km2). These areas are adjacent to the current 21km2. A graphic locating the above-mentioned areas within the West Kytlim mine, and the location of the Tipil Area and the previously approved Flanks Area is available on the Company’s website at: [link] Shareholders are also encouraged to follow the progress at the mine site through the Company’s media channels including: VIMEO: [link] TWITTER: [link] VOX MARKETS: [link] [link]
Totally_Wired
04 Dec 2019
RNS-Historic 04 December 2019 Monchetundra Update Eurasia Mining, the palladium, platinum, rhodium, iridium and gold producing company, operating the established West Kytlim Mine in the Urals, and also the operator of the Monchetundra Project, two predominately palladium open pit deposits located 3km away from Severonickel, one of the largest Norilsk Nickel’s base metals and PGM processing facility, near the town of Monchegorsk on the Kola Peninsula, is pleased to clarify via RNS information regarding the PGM resources contained in the Monchetundra flanks area and other immediate areas adjacent to its production license. Background: Eurasia’s Monchetundra Project saw state approval of maiden reserves and resources in late 2018 with the final issue of a mining right issued for this PGM discovery following shortly thereafter. The Company has operated various exploration licenses in the area since 2005, when considerable work was undertaken in a joint venture with Anglo American, then the world’s largest PGM producer. As is normal practice, the exploration tenement was redrawn on a number of occasions, and finally rescinded into a mining license in two sub-areas within the larger exploration license. These are the West Nittis and Loipishnune deposits, issued as a single mining license valid to 2038, but existing as two areas separated by 3km (see announcement dated 11 December 2018 which sets out the details of this licence grant). As a direct consequence of the issue of the mining right, the Company was entitled, as per Russian sub-soil licensing laws, to apply for further ground in the immediate vicinity of the mining license. This exclusive right is in place to protect parties to which a mineral discovery is credited, in the event that their mineral reserve can be shown to be continuous beyond their production license. This can occur if, for example, the Company’s initial exploration license did not include all of the on-strike continuity of a potential ore body. When a mining right is approved, it is normal practice for a Company to make application for further exploration licenses within a 5km perimeter of the mining right. This new application is called a ‘flanks application’. Eurasia’s flanks application is for an 8km2 area, covering on-strike continuation of mineralisation at both the Loipishnune and West Nittis open pittable reserves. The application was made in September 2019 and further details are set out in the announcement dated 26 September 2019. Russian State Cadastre of Mines: Eurasia maintains a drilling and exploration database of proprietary information for the Monchetundra Project some of which is information dating back to the Company’s joint venture with Anglo American. This includes the area for which the mining licence was received in late 2018, as well as the surrounding area within a larger exploration license. The Company and its working partner CKE (CKE works with Eurasia and also Norilsk Nickel, Nord Gold, Barrick and other miners on Kola) also maintain databases on the regional prospectively and projects. In addition, the Company sought further information from the Murmansk Archive for Geological Information, the regional state cadastre of mines, to obtain the current knowledge base of resources and reserves within the 5km perimeter of the mining rights, in what is a well-established mining area with numerous ore bodies occurring in an ‘cluster’ at the contact between two mafic and ultra-mafic layered massifs. The Company’s proprietary information was compiled with the official geological archive, in considering the best area to apply for as a flanks application. The Geological archive is a sub-division of Rosnedra, the Federal Agency for subsoil use, and is mandated by law to maintain the state Cadastre of mining deposits, which is essentially a government inventory of the state resources, according to prescribed procedures, including review by an expert panel of independent resource professionals. (the “Russian Cadastreâ€). The data contained in the official Geological archive forms the basis for this RNS. The below list of resources has been compiled by the Murmansk Geological Archive and represents the current database of resources in the immediate area of the Monchetundra production license. This information contained in the Russian Cadastre has not been independently verified by Eurasia and it is therefore provided for guidance purposes only. The Company would need to verify the data in the Russian Cadastre through additional work and drilling if it was to incorporate the data into the defined resources of the Company (as required by the relevant mining standards and the AIM rules). The Company may undertake such work as and when it is deemed necessary and in any event if it determines to progress with expanding the operations of the Company; building upon the data sets already established by previous workers. To summarise, as per the information from the Russian Cadastre: · there are potential resources within the existing Company licence and the flanks application of c.15M oz. This includes Eurasia’s current state approved reserves and resources of c.1.9million ounces (see the Company’s Resource Statement, announced 15 June 2017) and c.13Moz detailed in the Russian Cadastre; · additional potential resources occurring within 5km of the Monchetundra Mining license and areas neighbouring the Company’s deposits of c.4M oz; and · additional potential resources within the wider Monchegorsk district in which the Monchetundra license is located of c.21M oz. The potential for the area could be 40M oz of PGMs, but as stated above this data has not been independently verified by Eurasia and other than the area covered by the Company’s existing licence the Company does not yet have any other licences in the area However, the directors believe the Company is already established as the dominant player in Kola PGM with its production license until 2038 and its exclusive right for the flanks under applicable laws, and has a ‘first mover advantage’. Receipt of approval for the flanks application would allow the Company to become further established in the region generally, allowing it to pursue its internal long term corporate strategy of establishing a new global centre for PGM on the Kola Peninsula; although at this stage the strategy is still at an inception stage and further information will be provided in due course. The Directors further believe the new favourable price environment for PGM, and particularly historically all-time high prices for palladium create an opportunity to recommence work at currently lapsed primarily palladium projects in the region, should any such opportunities arise Christian Schaffalitzky, Chairman at Eurasia commented: ‘We are pleased to offer this further update on the resource surrounding our Monchetundra Project. We are now well established in Kola with a production license valid until 2038 and our exclusivity to the flanks firmly established under applicable laws. We have always noted the significant potential in the area which we now more strongly believe can be developed into a new global mining region for PGM to rival other large PGM producing regions of the world, including the Bushveld Complex in South Africa and the Taimyr Peninsula in Russia. It is not unusual for layered mafic massif to contain multiple deposits and deposit types. The Monchepluton Massif, hosting the majority of the deposits mentioned here, is generally accepted to contain many of the internationally recognised intrusive igneous PGM deposit types. With our EPC and Financing contract with Sinosteel signed and valid for 10 years our 2 open pittable Monchetundra deposits are fully financed and we can in our opinion rapidly move into production. We have also previously stated (see announcements dated 24 October and 25 November 2019) that we are considering all options for the Monchetundra Project including the potential sale - the resource potential here mentioned, as well as our expansion strategy on the Kola Peninsula as a future palladium district are key considerations in our discussion.’ Consent for release Christian Schaffalitzky, FIMMM, PGeo, CEng, is a director of the Company. He has reviewed the update and consents to/approves the inclusion of the information in the form and context in which it appears here. He is a Competent Person for the purposes of the reporting of these results. Further detail. To summarise, according to the Russian Cadastre, there are potential resources within the existing Company licence and the flanks application of c.15M oz; additional potential resources within 5km of the Monchetundra Mining license of c.7M oz and total potential resources within the wider Monchegorsk district, according to the Russian Cadastre, of c.40M oz of PGMs. The total potential resources in the Russian Cadastre breaks down as: See Link Below [link]
Totally_Wired
29 Nov 2019
RNS-Historic 29 November 2019 Eurasia Mining plc Exercise of Warrants and Options Eurasia has received notice to exercise warrants over 15,583,333 ordinary shares of 0.1 pence in the Company at an exercise price of 0.6 pence, and a further notice regarding warrants over 3,026,806 ordinary shares at an exercise price of 0.826 pence (together, the 'Warrant Shares"). All funds for the exercise of the Warrant Shares has been received and amount to a cash value of, in aggregate, £118,501. 15,583,333 warrants of the above amount are being executed by clients of the Company’s broker First Equity and are the last remaining warrants issued in conjunction with shares placed with clients of First Equity in May 2018. In addition, the Company announces it has received notices to exercise options over 3,000,000 ordinary shares of 0.1 pence in the Company at an exercise price of 0.42 pence per share, 3,000,000 options at an exercise price of 0.6 and 5,000,000 at an exercise price of 0.9 pence per share (the “Option Sharesâ€). The consideration for the exercise of the Option Shares amounts, in aggregate, to a cash value of £75,600. These options were exercised by long standing employees of the Company, not holding positions as directors of the Company or as top management or advisors to the board. Application will be made for the Warrant Shares and Option Shares to be admitted to trading on AIM, and dealings are expected to commence on or around 04 December 2019 (“Admissionâ€). These shares will rank pari passu with the ordinary shares of the Company in issue. Christian Schaffalitzky, the Chairman commented: “As previously announced, Eurasia is in a strong cash position as our operational teams prepare for the next season of mining at West Kytlim and advance Monchetundra towards production. None of the recently executed warrants or options were executed by directors. The First Equity warrant overhang is now fully removed. The directors also continue to make progress in ongoing talks in the current price environment for palladium and rhodiumâ€. Total voting rights The Company’s total issued share capital upon Admission of the Warrant shares and Option Shares will be 2,693,756,753 ordinary shares. As the Company does not hold any shares in Treasury, this figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Disclosure and Transparency rules. [link]
Totally_Wired
27 Nov 2019
RNS-Historic From yesterday: Replacement: Appointment of NED & W. Kytlim Update from Regulatory News | 26th November 2019 162 The following amendments have been made to the ‘Appointment of Director and West Kytlim Update’ announcement released on 26/11/2019 at 11:18 under RNS No 7050U. Kopanang Empowerment Company (RF) is a current (not previous) directorship of Anthony James Nieuwenhuys (aged 65). All other details remain unchanged. The full amended text is shown below. [link]
Totally_Wired
26 Nov 2019
RNS-Historic 26 November 2019 Eurasia Mining PLC Appointment of Non-Executive Director and West Kytlim Update Board Appointment The Board of Eurasia Mining plc is pleased to announce the appointment of Anthony James Nieuwenhuys as an non-executive director of the Company with immediate effect. James has held senior positions including Chief Operating Officer at Polyus Gold, and is currently Chief Executive Officer at South African Lesego Platinum Mining Limited. James has also held senior positions at a number of other key EPC organisations, so the directors believe that the appointment of Mr. Nieuwenhuys will be a great addition to the board. In the Company’s announcement of 16th September 2019, it was noted that the appointment of Mr. Nieuwenhuys to the board would only occur if a potential transaction with Lesego Platinum was to progress. The Company would like to reiterate that there has been a change of approach at board level, and at this stage, there is no intention to enter into any arrangement with Lesego, although both companies continue to keep this under review. Instead, the Directors believe that the experience of Anthony and his contacts, especially among PGM and gold producers in Russia, China and South Africa, could be beneficial for the Company as it continues to explore potential options for the Company’s assets including a potential sale of the Company’s mining assets. However, as previously stated, there can be no guarantee that any transaction, with any party, will occur. The details required pursuant to the AIM Rules for Companies, in relation to this announcement, are set out below. West Kytlim Update In the meantime, the Company is pleased to provide an update on its operations at West Kytlim. · Due to delays and inconsistencies by the original contractor at West Kytlim only 66kg (2,122 oz) of platinum has been approved by authorities as the maximum approved production limit for production in 2019, thus only this volume of platinum could be produced. The amounts of the other metals (palladium, iridium, rhodium and gold) remain to be tallied and are to be finalised with the revenue from the Refinery for these metals payable on schedule by the end of this year. Further updates on this will be provided as appropriate. · The state approval on the second Kluchiki deposit reserves calculation as well as definitive feasibility study was received as expected, with final confirmation received as official board meeting minutes from the Urals Reserves commission on 13th September 2019. These previously announced additional reserves at the Kluchiki area are now fully permitted for mining. · Metal grades and stripping ratio in the 2019 season were on the same level as in the 2018 season. The production volumes were impacted by the approved production limit due to the late start caused by a few delays by the original contractor, speeding up the decision to shift from contractor operation to Eurasia’s own operation. · The Company continued mining at site until all reserves the above mentioned approved by the state for mining for the 2019 season had been mined out. · To ensure sufficient available mineable material for the 2020 season the Company has taken measures to ensure the Bolshaya Sosnovka area will be available for mining. This area contains reserves previously approved as 748Kg (c. 24,000 oz) Raw Platinum (see RNS dated 22 April 2014 where the Bolshaya Sosnovka area is referred to as TK Area 1). A drilling program of 682.5m, inclusive of 192m of larger diameter verification drilling was completed at this area during 2019 and was designed to bring these reserves to mineable status with approval to be sought over the winter period in accordance with the applicable laws. This should allow the Company to start mining at Kluchiki, and enable it to stockpile the ore until such time as the processing season starts (with the processing anticipated to start in March 2020). Mining at Bolshaya Sosnkova should commence thereafter. · The Kluchiki reserves which are already available are in addition to those at the Bolshaya Sosnovka area. · Eurasia is fully financed to start the 2020 season without contractors using its own equipment keeping all margins and positive effects from PGM prices. · Finally, as previously announced the necessary gravel washing equipment and peripherals were purchased during the 2019 season. Further equipment including excavators, trucks and bulldozers were leased to maintain steady state delivery of ore to the washplant. Discussions with leasing companies and banks are now progressing at subsidiary level, to establish the best means of capitalising the necessary machinery for the 2020 season and beyond. Eurasia is on schedule to start mining in January 2020 to stockpile the ore for enrichment going forward once the processing season starts. Christian Schaffalitzky, Chairman commented: "Through the final days of this season at West Kytlim we tested running the mine using our own team without the contractor, having purchased the necessary equipment from operating cashflow. 2019 has proven to be yet another important year for the Project and the Company is now operating the West Kytlim mine on a 100% of revenue basis. This represents a step change in our development and a 3-fold increase from our previous share of revenue that varied from 30% to 35% and is now 100%. It has taken some years to get to this point. We are now taking control of the established mine and have the necessary people and machinery in place to run it. Contracting in the early years was necessary to build our own team on the ground, however it resulted in relying on potentially unsustainable production due to the contractor’s own priorities. We are happy to be in full control now. The Directors are also happy to welcome Mr. Nieuwenhuys to the board. At this exciting time in the development of the Company it is valuable to expand our team to include industry professionals with relevant contacts." [link]
Totally_Wired
25 Nov 2019
RNS-Historic 25 November 2019 Eurasia Mining plc Clarification of Understanding with CITIC & VTB Capital Eurasia, an established producer of palladium, platinum, iridium, rhodium and gold announces that, further to the announcement dated 24 October 2019 (the “Announcementâ€), the Company continues to progress its conversations with CITIC, one of China’s investment banks and VTB Capital, one of Russia’s investment banks (together the “Banksâ€) as they continue to explore possible strategic options for the Company’s current mining assets (the Company’s Kola and Urals assets (the “Assetsâ€)). However, as set out in the Announcement, no engagement letter has yet been signed with the Banks, although they continue to work on the Company’s behalf; no agreement on success fees has yet been reached; and the Company also reiterates that there can be no guarantee that any transaction will occur nor that there can be any guarantee as to the value that could be achieved for any of the Assets in any potential transaction. [link]
Totally_Wired
21 Nov 2019
In the Media This bloke divides a lot of people but he gives his charting view of EUA today along with highlighting an interview with EUA tomorrow: [link]
Ripley94
17 Nov 2019
ii Would of been a good buy on fall back 3.2p now.
Totally_Wired
15 Nov 2019
RNS-Historic 15 November 2019 16:26 Eurasia Mining plc Exercise of Warrants Eurasia is pleased to announce that it has received notice to exercise warrants over 9,166,666 ordinary shares of 0.1 pence in the Company at an exercise price of 0.6 pence (the “Warrant Sharesâ€). The consideration for the exercise of the Warrant Shares amounts, in aggregate, to a cash value of £55,000. Application will be made for the Warrant Shares to be admitted to trading on AIM, and dealings are expected to commence on or around 22 November 2019 (“Admissionâ€). These shares will rank pari passu with the ordinary shares of the Company in issue. Total voting rights The Company’s total issued share capital upon Admission of the Warrant shares will be 2,664,146,614 ordinary shares. As the Company does not hold any shares in Treasury, this figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Disclosure and Transparency rules.
Totally_Wired
14 Nov 2019
RNS-Historic Amendment: Exercise of Options, Warrants & Clause 14th November 2019 12:35 Eurasia Mining PLC The following amendment has been made to the “Exercise of Options and Warrants and Accelerator Clause Notice†announcement released on 13 November 2019 at 186, RNS number: 3430T. The number of warrants exercised should have read as 1,166,668. Therefore, the total issued share capital upon Admission is 2,654,979,948 ordinary shares. All other details remain unchanged. The full amended text is shown below. Eurasia Mining plc (“Eurasia†or “the Companyâ€) Exercise of Options and Warrants and Accelerator Clause Notice (amended) Eurasia is pleased to announce that it has received notice to exercise warrants over 1,166,668 ordinary shares of 0.1 pence in the Company at an exercise price of 0.6 pence (the “Warrant Sharesâ€). The consideration for the exercise of the Warrant Shares amounts, in aggregate, to a cash value of £7,000. In addition, the Company announces it has received notice to exercise options over 11,000,000 ordinary shares of 0.1 pence in the Company at an exercise price of 0.6 pence per share (the “Option Sharesâ€). The consideration for the exercise of the Option Shares amounts, in aggregate, to a cash value of £64,200. These options were exercised by employees and ex-employees of the Company, not holding positions as directors of the Company, PDMRs or advisors to the board. Accelerator Clause Furthermore, the Company wishes to advise that the accelerator clause governing warrants associated with the May 2018 placing undertaken with clients of the Company’s broker First Equity Limited (See RNS dated 10 May 2018) has now been triggered by the Company. A one-for-one warrant valid to May 2020 was subject to an accelerator clause whereby if the VWAP of the Company’s share price is sustained at greater than 1.8p for ten consecutive days the Company may choose to force execution of the warrants. Tuesday 12th November was the 10th consecutive day satisfying this condition and notice was duly given to warrant holders. Warrants for which notice of execution is not given within 5 business days from the date of notice will be forfeited. The total number of outstanding warrants subject to the clause is 23,349,998, which represents a cash value of £148,600. Christian Schaffalitzky, Chairman added: “The Directors are happy to exercise our right to remove the remaining warrant overhang that has been a concern to some of our shareholders.†Application has been made for the Warrant Shares and Option Shares to be admitted to trading on AIM, and dealings are expected to commence on or around 19 November 2019 (“Admissionâ€). These shares will rank pari passu with the ordinary shares of the Company in issue. Total voting rights The Company’s total issued share capital upon Admission of the Warrant Shares and the Options Shares will be 2,654,979,948 ordinary shares. As the Company does not hold any shares in Treasury, this figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Disclosure and Transparency rules. [link]
Totally_Wired
13 Nov 2019
RNS-Historic 13th November 2019 186 Eurasia Mining PLC Exercise of Options and Warrants and Accelerator Clause Notice Eurasia is pleased to announce that it has received notice to exercise warrants over 1,666,668 ordinary shares of 0.1 pence in the Company at an exercise price of 0.6 pence (the “Warrant Sharesâ€). The consideration for the exercise of the Warrant Shares amounts, in aggregate, to a cash value of £7,000. In addition, the Company announces it has received notice to exercise options over 11,000,000 ordinary shares of 0.1 pence in the Company at an exercise price of 0.6 pence per share (the “Option Sharesâ€). The consideration for the exercise of the Option Shares amounts, in aggregate, to a cash value of £64,200. These options were exercised by employees and ex-employees of the Company, not holding positions as directors of the Company, PDMRs or advisors to the board. Accelerator Clause Furthermore, the Company wishes to advise that the accelerator clause governing warrants associated with the May 2018 placing undertaken with clients of the Company’s broker First Equity Limited (See RNS dated 10 May 2018) has now been triggered by the Company. A one-for-one warrant valid to May 2020 was subject to an accelerator clause whereby if the VWAP of the Company’s share price is sustained at greater than 1.8p for ten consecutive days the Company may choose to force execution of the warrants. Tuesday 12th November was the 10th consecutive day satisfying this condition and notice was duly given to warrant holders. Warrants for which notice of execution is not given within 5 business days from the date of notice will be forfeited. The total number of outstanding warrants subject to the clause is 23,349,998, which represents a cash value of £148,600. Christian Schaffalitzky, Chairman added: “The Directors are happy to exercise our right to remove the remaining warrant overhang that has been a concern to some of our shareholders.†Application has been made for the Warrant Shares and Option Shares to be admitted to trading on AIM, and dealings are expected to commence on or around 19 November 2019 (“Admissionâ€). These shares will rank pari passu with the ordinary shares of the Company in issue. Total voting rights The Company’s total issued share capital upon Admission of the Warrant Shares and the Options Shares will be 2,655,479,948 ordinary shares. As the Company does not hold any shares in Treasury, this figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Disclosure and Transparency rules. [link]
